Tài liệu Kiểm định hiệu lực ngang giá sức mua PPP giữa Việt Nam với Thái Lan và Malaysia: 27ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
.,ӆ0Ĉӎ1++,ӊ8/Ӵ&1*$1**,ẩ6Ӭ&08$333
*,Ӳ$9,ӊ71$09Ӟ,7+ẩ,/$19ơ0$/$<6,$
7+(385&+$6,1*32:(53$5,7<$021*9,(71$07+$,/$1'$1'0$-
/$<6,$
+͛7Kͯ\7LrQ1+͛7KX+RjL11J{9ăQ7RjQ1
1Jj\QKұQ 1Jj\QKұQEҧQVӱD1Jj\ÿăQJ
7yPWҳW
%jLEiRWLӃQKjQKNLӇPÿӏQKKLӋXOӵFQJDQJJLiVӭFPXD333JLӳD9LӋW1DPYӟL7KiL/DQYj0D-
OD\VLD9ӟLFiFKWLӃSFұQFKXӛLWӹJLiKӕLÿRiLYjFKӍVӕJLiOjSKLWX\ӃQYjVӱGөQJP{KuQKKӗLTX\
EiQWKDPVӕFK~QJW{LÿmWuPWKҩ\VӵWӗQWҥLFӫD333JLӳD9LӋW1DPYj7KiL/DQQKѭQJNK{QJWuP
WKҩ\VӵWӗQWҥL333JLӳD9LӋW1DPYj0DOD\VLD.ӃWTXҧQJKLrQFӭXFKRWKҩ\FKtQKViFKWӹJLiҧQK
KѭӣQJUҩWOӟQYjRVӵWӗQWҥL333JLӳD9LӋW1DPYӟL7KiL/DQYj0DOD\VLD.ӃWTXҧQJKLrQFӭX cũn
SKiWKLӋQPӝWÿLӇPTXDQWUӑQJÿyQJJySWKrPYjROờWKX\ӃW333ÿyOjW͛QW̩LKD\NK{QJW͛QW̩L333
NK{QJFK͑FͱQJQK̷F[HP[pWÿ͡O͏FKF...
9 trang |
Chia sẻ: quangot475 | Lượt xem: 619 | Lượt tải: 0
Bạn đang xem nội dung tài liệu Kiểm định hiệu lực ngang giá sức mua PPP giữa Việt Nam với Thái Lan và Malaysia, để tải tài liệu về máy bạn click vào nút DOWNLOAD ở trên
27ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
.,ӆ0Ĉӎ1++,ӊ8/Ӵ&1*$1**,ẩ6Ӭ&08$333
*,Ӳ$9,ӊ71$09Ӟ,7+ẩ,/$19ơ0$/$<6,$
7+(385&+$6,1*32:(53$5,7<$021*9,(71$07+$,/$1'$1'0$-
/$<6,$
+͛7Kͯ\7LrQ1+͛7KX+RjL11J{9ăQ7RjQ1
1Jj\QKұQ 1Jj\QKұQEҧQVӱD1Jj\ÿăQJ
7yPWҳW
%jLEiRWLӃQKjQKNLӇPÿӏQKKLӋXOӵFQJDQJJLiVӭFPXD333JLӳD9LӋW1DPYӟL7KiL/DQYj0D-
OD\VLD9ӟLFiFKWLӃSFұQFKXӛLWӹJLiKӕLÿRiLYjFKӍVӕJLiOjSKLWX\ӃQYjVӱGөQJP{KuQKKӗLTX\
EiQWKDPVӕFK~QJW{LÿmWuPWKҩ\VӵWӗQWҥLFӫD333JLӳD9LӋW1DPYj7KiL/DQQKѭQJNK{QJWuP
WKҩ\VӵWӗQWҥL333JLӳD9LӋW1DPYj0DOD\VLD.ӃWTXҧQJKLrQFӭXFKRWKҩ\FKtQKViFKWӹJLiҧQK
KѭӣQJUҩWOӟQYjRVӵWӗQWҥL333JLӳD9LӋW1DPYӟL7KiL/DQYj0DOD\VLD.ӃWTXҧQJKLrQFӭX cũn
SKiWKLӋQPӝWÿLӇPTXDQWUӑQJÿyQJJySWKrPYjROờWKX\ӃW333ÿyOjW͛QW̩LKD\NK{QJW͛QW̩L333
NK{QJFK͑FͱQJQK̷F[HP[pWÿ͡O͏FKFͯDP͡WÿL͋PVRYͣLÿ˱ͥQJ333PjWK{QJWK˱ͥQJFyÿ͡O͏FK
WURQJP͡WSK̩PYLQK̭Wÿ͓QKVRYͣLÿ˱ͥQJ333ÿ͋OờJL̫LFKRFiFFKLSKtWURQJJLDRG͓FKWK˱˯QJP̩L
TX͙FW͇YjFiF\͇XW͙NKiFWiFÿ͡QJ.ӃWTXҧQJKLrQFӭXFKRWKҩ\SKҥPYLQj\Oj1ӃXÿӝOӋFKUD
NKӓLÿѭӡQJ333QKӓKѫQWKuYүQÿѭӧF[HPOjWӗQWҥLQJDQJJLiVӭFPXDWUѭӡQJKӧS9LӋW1DP
Yj7KiL/DQQӃXÿӝOӋFKYѭӧWTXiWKuNӃWOXұQOjNK{QJWӗQWҥLQJDQJJLiVӭFPXD333WUѭӡQJ
KӧS9LӋW1DPYj0DOD\VLD
7ӯNKyDKLӋXOӵFQJDQJJLiVӭFPXDFKXӛLWӹJLiKӕLÿRiLFKӍVӕJLiSKLWX\ӃQKӗLTX\EiQWKDPVӕ
$EVWUDFW
7KHSDSHUH[DPLQHVWKHSXUFKDVLQJSRZHUSDULW\333DPRQJ9LHWQDP7KDLODQGDQG0DOD\VLD:LWK
WKHDSSURDFKXVLQJWKHH[FKDQJHUDWHVHULHVDQGWKHQRQOLQHDUSULFHLQGH[DQGXVLQJWKHVHPLSDUDPHW-
ULFUHJUHVVLRQPRGHOZHKDYHIRXQGWKHH[LVWHQFHRI333VEHWZHHQ9LHWQDPDQG7KDLODQGEXWIRXQG
QRH[LVWHQFHDW333EHWZHHQ9LHWQDPDQG0DOD\VLD7KHUHVXOWVRIWKHVWXG\VKRZWKDWH[FKDQJHUDWH
SROLF\KDVDJUHDWLQÀXHQFHRQWKHH[LVWHQFHRI333VDPRQJ9LHWQDP7KDLODQGDQG0DOD\VLD7KH
¿QGLQJVDOVRUHYHDODQLPSRUWDQWSRLQWFRQWULEXWLQJWRWKH333WKHRU\WKDWH[LVWVRUGRHVQRWH[LVW
PPP is not only rigidly considering the deviation of one point compared to the PPP curve but there is
usually a deviation in a certain range of PPP lines to account for costs in international trade transac-
WLRQVDQGRWKHUIDFWRUVLPSDFW5HVHDUFKVKRZVWKDWWKLVUDQJHLV,IWKHGHYLDWLRQRXWRIWKH333LV
OHVVWKDQLWLVVWLOOFRQVLGHUHG333LQWKHFDVHRI9LHWQDPDQG7KDLODQGLIWKHGHYLDWLRQH[FHHGV
WKHFRQFOXVLRQLVWKDW333GRHVQRWH[LVWLQWKHFDVHRI9LHWQDPDQG0DOD\VLD
.H\ZRUGVSXUFKDVLQJSRZHUSDULW\H[FKDQJH UDWHVHULHVQRQOLQHDUSULFH LQGH[ VHPLSDUDPHWULF
regression model
1 Trường Đại học Tài chớnh – Marketing
*LӟLWKLӋX
/ҥPSKiWYjWӹJLiKӕLÿRiLFyTXDQKӋYӟL
QKDX WK{QJTXD Oờ WKX\ӃW1JDQJJLiVӭFPXD
7KHR Oờ WKX\ӃW Qj\ JLi Fҧ FӫD FQJPӝW ORҥL
KjQJKyDOjJLӕQJQKDXFKRGEiQӣEҩWNǤTXӕF
JLDQjR1ӃXFyPӝWVӵFKrQKOӋFKWURQJJLiFҧ
KjQJKyDJLӳDTXӕFJLDWKuNLQKGRDQKFKrQK
OӋFKJLiVӁ[ҧ\UDKӋTXҧOjWӹJLiKӕLÿRiLVӁ
ÿLӅXFKӍQKÿӇOjPFkQEҵQJPӭFJLiKjQJKyD
.ӇWӯNKLOờWKX\ӃWQj\ÿѭӧFSKiWELӇXYjRQăP
37ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
EӣLQKjNLQKWӃKӑF*XVWDY&DVVHOÿmFy
UҩWQKLӅXFiFQJKLrQFӭXWKӵFKLӋQÿӇNLӇPÿӏQK
OờWKX\ӃWQj\WURQJWKӵFWӃ&iFQJKLrQFӭXFKR
ÿӃQQD\FKLDUDOjPWUѭӡQJSKiL7UѭӡQJSKiL
ÿҫXWLrQNKҷQJÿӏQKWӗQWҥLQJDQJJLiVӭFPXD
YjWUѭӡQJSKiLFzQOҥLWKuNK{QJ.ӃWTXҧQJKLrQ
FӭXFyFKtQK[iFKD\NK{QJSKөWKXӝFUҩWOӟQ
YjRSKѭѫQJSKiSVӱGөQJYjTXDQÿLӇPYӅPӕL
TXDQKӋJLӳDFKXӛLGӳOLӋXOҥPSKiWYjWӹJLi
KӕLÿRiL%jLEiRQj\ӫQJKӝTXDQÿLӇPTXDQ
KӋSKLWX\ӃQJLӳDFKXӛLGӳOLӋXWUrQ9uYұ\
P{KuQKYjSKѭѫQJSKiSQJKLrQFӭX VӁ WKLrQ
YӅTXDQÿLӇPQj\NKLNLӇPÿӏQKFyKD\NK{QJ
WӗQWҥL333JLӳD9LӋW1DPYjÿӕLWiFFyJLDR
GӏFKWKѭѫQJPҥLOӟQQKҩWWURQJ$6($1Oj7KiL
/DQYj0DOD\VLDWURQJJLDLÿRҥQQJKLrQFӭXWӯ
WKiQJÿӃQWKiQJ
7әQJTXDQFiFQJKLrQFӭXWUѭӟFÿk\
1KuQ FKXQJ FiF FKXӛL WKӡL JLDQ trong kinh
WӃWKѭӡQJÿѭӧFFKROjSKLWX\ӃQ7RQJ
(QJOH %ROOHUVOHY Yj FiF QKj
NLQK WӃ WKѭӡQJ [k\ GӵQJ WtQK SKL WX\ӃQ Qj\
WKHRPӝW WURQJKDLFiFKVDX L[k\GӵQJP{
KuQK SKL WX\ӃQ ÿӝQJ FKRPӝW FKXӛL WKӡL JLDQ
Fө WKӇ +DQQDQ )DQ DQG<DR
*DRKRһFLL[HP[pWPӕLTXDQKӋSKL
WX\ӃQJLӳDKDLFKXӛLWKӡLJLDQ*UDQJHU
&KHQ&iFEjLQJKLrQFӭXYӅVӵWӗQWҥL
FӫD 333 ÿѭӧF WKӵF KLӋQ WUrQ QKLӅX TXӕF JLD
YjWѭѫQJӭQJYӟLKDLFiFK[k\GӵQJWUrQWKuFy
KDL KѭӟQJ ÿӇ NLӇP ÿӏQK ÿy Oj NLӇP ÿӏQK
QJKLӋPÿѫQYӏFӫDFKXӛLWӹJLiKӕLÿRiLWKӵFYj
NLӇPÿӏQKWtQKÿӗQJOLrQNӃWWURQJPӕLTXDQ
KӋJLӳDWӹJLiKӕLÿRiLGDQKQJKƭDYjFKӍVӕJLi
WLrXGQJJLӳDKDLTXӕFJLDFҫQNLӇPÿӏQK&iF
SKѭѫQJSKiSNLӇPÿӏQKQJKLӋPÿѫQYӏYjÿӗQJ
OLrQNӃW WUX\ӅQWKӕQJOjSKѭѫQJSKiSÿѭӧFVӱ
GөQJUӝQJUmLWURQJFiFQJKLrQFӭXWKӵFQJKLӋP
FӫD333 QKѭQJ FiFSKѭѫQJSKiSQj\ WKѭӡQJ
NK{QJ WuP WKҩ\ EҵQJ FKӭQJ FKR WKҩ\ Vӵ WӗQ
WҥL FӫD3331KӳQJ WKҩWEҥLQj\GүQÿӃQYLӋF
VӱGөQJQKLӅXSKѭѫQJSKiSPӟLÿӇ WuPNLӃP
EҵQJFKӭQJYӅ333EDRJӗPVӱGөQJEӝGӳOLӋX
YӟLWKӡLJLDQGjLKѫQ7D\ORUVӱGөQJ
SKѭѫQJ SKiS NLӇP ÿӏQK QJKLӋP ÿѫQ Yӏ GҥQJ
EҧQJ7D\ORUYjVӱGөQJFiFP{KuQK
SKLWX\ӃQ+DLSKѭѫQJSKiSÿҫXWLrQOLrQTXDQ
ÿӃQYLӋFVӱGөQJFiFEӝGӳOLӋXNKiFQKDXÿӇ
FҧLWKLӋQYLӋFNLӇPWUD333WX\QKLrQFyQKѭӧF
ÿLӇPOjEӓTXDVӵSKөWKXӝFFӫDFiFTXӕFJLD
2ả&RQQHOO7URQJNKLÿySKѭѫQJSKiS
VӱGөQJP{KuQKSKLWX\ӃQFyWtQKÿӃQFiF\ӃX
WӕNLQKWӃNKiFFyWiFÿӝQJÿӃQWӹJLiKӕLÿRiL
FKLSKtJLDRGӏFKYҩQÿӅVWLFN\SULFHVӁFKR
NӃWTXҧÿiQJWLQFұ\KѫQ
ộ WѭӣQJ YӅ P{ KuQK Wӹ JLi KӕL ÿRiL SKL
WX\ӃQ ÿҫX WLrQ ÿѭӧF SKiW KLӋQ EӣL+HFNVFKHU
éQJFKR UҵQJFKtQKFKLSKtJLDRGӏFK
TXӕF WӃ JLӳD WKӏ WUѭӡQJ KDL TXӕF JLD GR NKiF
ELӋWYӅNK{QJJLDQOjQJX\rQQKkQGүQÿӃQVӵ
SKLWX\ӃQ6DXÿyPӝWORҥWFiFQJKLrQFӭXWKӵF
QJKLӋPÿѭӧFWKӵFKLӋQQKҵPSKiWWULӇQP{KuQK
Oờ WKX\ӃWYӅ WӹJLi WKӵFSKL WX\ӃQYj VӱGөQJ
FiFP{ KuQK Qj\ ÿӇ NLӇP WUD JLҧ WKX\ӃW 333
%DXP HW DO 2ả&RQQHOO DQG:HL
ÿm NӃ WKӯD QJKLrQ FӭX FӫD+HFNVFKHU
[HP[pWP{KuQKWӹJLiKӕLÿRiLSKLWX\ӃQGѭӟL
JyFÿӝFKLSKtJLDRGӏFK1JRjLUDYӟLJLҧÿӏQK
FiFF{QJW\FyVӵSKkQELӋWJLiӣFiFTXӕFJLD
NKiFQKDXQJKLrQFӭXFӫD&DUYDOKRYj1HFKLR
FKRWKҩ\YҩQÿӅVWLFN\±SULFHOjQJX\rQ
QKkQ OjPFKR WKӏ WUѭӡQJKjQJKyD ÿLӅX FKӍQK
FKұPKѫQWKӏWUѭӡQJWjLVҧQNKLFyF~VӕF[ҧ\UD
ĈLӅXQj\QJөờPӕLTXDQKӋSKLWX\ӃQJLӳDWӹ
JLiKӕLÿRiLYjFKӍVӕJLiFӫDQӅQNLQKWӃ7KrP
YjRÿyYҩQÿӅOӧLWKӃQăQJVXҩWWѭѫQJÿӕLJLӳD
FiF TXӕFJLD FNJQJ OjPӝW WURQJQKӳQJ\ӃX Wӕ
ӫQJKӝFKRP{KuQK WӹJLiKӕLÿRiLSKL WX\ӃQ
&KRQJHWDO
9ӟL FiFK WLӃS FұQ ÿҫX WLrQ PӝW Vӕ QKj
QJKLrQFӭXWLӃQKjQKNLӇPÿӏQKQJKLӋPÿѫQYӏ
WUrQ FKXӛL Wӹ JLi KӕL ÿRiL WKӵF0LFKDHO HW DO
VӱGөQJGӳOLӋXKjQJWKiQJFӫDEӕQTXӕF
JLD0ӻ$QK3KiSYjĈӭFÿӇP{WҧTXiWUuQK
ÿLӅXFKӍQKSKLWX\ӃQVӱGөQJ6PRRWK7UDQVLWLRQ
$XWRUHJUHVVLYH 0RGHO YӟL WӕF ÿӝ ÿLӅX FKӍQK
WKD\ ÿәL+ӑ WKҩ\ UҵQJ QӃX GӵD WUrQP{ KuQK
WX\ӃQWtQKNKҧQăQJEiFEӓVӵWәQWҥLFӫD333
UҩWFDRPһFGWURQJGjLKҥQYүQFyVӵWӗQWҥL
FӫD333&iFWiFJLҧWuPWKҩ\FKXӛLWӹJLiKӕL
ÿRiL WKӵF Fy[XKѭӟQJKӝL Wө YӅ JLi WUӏ WUXQJ
EuQK+D\QyLFiFKNKiFFKXӛLWӹJLiKӕLÿRiL
WKӵFOjFKXӛLGӯQJFKRWKҩ\VӵWӗQWҥLFӫD333
%DXPYjFӝQJVӵVӱGөQJGӳOLӋXWURQJ
WKӡLNǤKұX%UHWWRQ:RRGVYjVӱGөQJ6PRRWK
7UDQVLWLRQ$XWRUHJUHVVLYH0RGHOÿmPӝWOҫQQӳD
47ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
NKҷQJ ÿӏQK NӃW TXҧ FӫD0LFKDHO HW DO
7LӃSÿyEjLQJKLrQFӭXFӫD%DKPDQL2VNRRHH
WKD\YuVӱGөQJNLӇPÿӏQK$')FKXҭQ
Kӑ Vӱ GөQJ NLӇPÿӏQKPӟL NӃW KӧS SKL WX\ӃQ
WURQJ FKXӛL Wӹ JLi WKӵF FӫDTXӕFJLD F{QJ
QJKLӋS .ӃW TXҧ FKR WKҩ\ SKѭѫQJ SKiS NLӇP
ÿӏQKPӟLӫQJKӝVӵ WӗQ WҥL333ӣQKLӅXTXӕF
JLDKѫQSKѭѫQJSKiS$')WK{QJWKѭӡQJ*ҫQ
ÿk\*LUDLWLVYjFӝQJVӵÿӅ[XҩWVӱGөQJ
FiFP{KuQKKӋVӕELӃQÿәLWKHRWKӡLJLDQQJүX
QKLrQÿӇNLӇPWUDJLҧWKX\ӃW333+ӑVӱGөQJGӳ
OLӋXWӹJLiWKӵFÿӇSKKӧSYӟLP{KuQKWӵKӗL
TX\YjWұSWUXQJYjRYLӋFSKkQWtFKVӵKӝLWөYӅ
JLiWUӏWUXQJEuQKFӫDFKXӛLWӹJLiKӕLÿRiLWKӵF
.ӃWTXҧFKRWKҩ\VӵWӗQWҥLFӫD333
9ӟL FiFK WLӃS FұQ WKӭ KDL FiF QKj QJKLrQ
FӭXWLӃQKjQKNLӇPÿӏQKWtQKÿӗQJOLrQNӃWJLӳD
FKXӛLWӹJLiKӕLÿRiLGDQKQJKƭDYjFKXӛLFKӍVӕ
JLi7UѭӟFÿk\FiFNLӇPÿӏQKÿӗQJOLrQNӃWFKӫ
\ӃXÿѭӧFWKӵFKLӋQӣGҥQJÿӗQJOLrQNӃWWX\ӃQ
WtQK WX\ QKLrQ NLӇP ÿӏQK WX\ӃQ WtQK WKѭӡQJ
WKҩWEҥLNKLWuPUDPӕLTXDQKӋJLӳDFiFFKXӛL
WKӡLJLDQNK{QJGӯQJQӃXFK~QJFyPӕLTXDQ
KӋSKLWX\ӃQ*UDQJHU+RQJYj3KLOOLSV
OұSOXұQUҵQJFiFFKXӛLWKӡLJLDQNK{QJ
GӯQJFyNKX\QKKѭӟQJOjFiFFKXӛLFyEѭӟFÿL
QJүXQKLrQUDQGRPZDONFKRQrQQӃXVӱGөQJ
FiFѭӟF OѭӧQJ WX\ӃQ WtQKFKRFiFNӃWKӧSSKL
WX\ӃQFyWKӇGүQÿӃQNӃWTXҧVDLOӋFKWURQJGjL
KҥQ'RÿyFiFWiFJLҧQj\WKӵFKLӋQNLӇPÿӏQK
5HJUHVVLRQ (UURU 6SHFL¿FDWLRQ 7HVW 5(6(7
VӱGөQJFKXӛLGӳOLӋXWKӡLJLDQNK{QJGӯQJÿӇ
NLӇPÿӏQKWUӵFWLӃSFKRPӕLTXDQKӋÿӗQJOLrQ
NӃWWX\ӃQWtQKYjKӑWuQKWKҩ\UҩWtWEҵQJFKӭQJ
ӫQJKӝVӵSKKӧSFӫDÿһF WtQKÿӗQJ OLrQNӃW
WX\ӃQWtQK1KѭYұ\YӟLFKXӛLWKӡLJLDQNK{QJ
GӯQJYjSKLWX\ӃQVӱGөQJFiFKNӃWKӧSWX\ӃQ
WtQKVӁGүQÿӃQNӃWTXҧVDLOӋFK&iFQJKLrQFӭX
VDXQj\ WұS WUXQJVӱGөQJP{KuQKSKL WX\ӃQ
ÿӇ [HP [pW Vӵ WӗQ WҥL FӫD 333 ÿLӇQ KuQK EjL
QJKLrQFӭXFӫD/L/LQYj+VLDRVӱGөQJ
P{KuQKEiQWKDPVӕYӟLKӋVӕKӗLTX\WKD\ÿәL
QKҵPNLӇPÿӏQKVӵWӗQWҥLFӫD333JLӳD0ӻ
$QK0ӻ 1KұWYj0ӻ &DQDGD%jLQJKLrQ
FӭX Qj\ WKӵF KLӋQ ÿӗQJ WKӡL Fҧ SKѭѫQJ SKiS
WUX\ӅQWKӕQJYjSKѭѫQJSKiSPӟLKӑWKҩ\UҵQJ
NKLVӱGөQJSKѭѫQJSKiSEiQWKDPVӕNӃWTXҧ
ӫQJKӝVӵWӗQWҥLFӫD333FyӣFҧEDFһSTXӕF
gia.
'R ÿy YӟL FiF FKXӛL Wӹ JLi KӕL ÿRiL GDQK
QJKƭDYjFKXӛLFKӍVӕJLiNK{QJGӯQJNKLNLӇP
ÿӏQKÿӗQJOLrQNӃWWURQJPӕLTXDQKӋJLӳDFiF
FKXӛL Qj\ Vӱ GөQJP{ KuQK SKL WX\ӃQ VӁ SK
KӧSYjFKRNӃWTXҧFKtQK[iFKѫQ%jLEiRQj\
QKyPWiFJLҧNӃWKӯDP{KuQKEiQWKDPVӕYӟL
KӋVӕKӗLTX\WKD\ÿәLFӫD;LDRÿӇWLӃQ
KjQK NLӇP ÿӏQK Vӵ WӗQ WҥL FӫD 333 JLӳD9LӋW
1DP±7KiL/DQYj9LӋW1DP±0DOD\VLD
3KѭѫQJSKiSQJKLrQFӭX
'ӳOLӋXWURQJQJKLrQFӭXQj\ÿѭӧFQKyPWiF
JLҧWKXWKұSWKHRWKiQJYӅWӹJLiKӕLÿRiLGDQK
QJKƭDFӫD91'7+%0<5YӟL86'FKӍVӕ
JLiWLrXGQJ&3,FӫD9LӋW1DP7KiL/DQYj
0DOD\VLD WURQJJLDLÿRҥQ WӯQăPÿӃQ
QăP1JXӗQGӳOLӋXÿѭӧFOҩ\Wӯ4Xӻ
7LӅQWӋTXӕFWӃ,QWHUQDWLRQDO0RQHWDU\)XQG±
,0)Yj7KRPVRQ5HXWHU
%jLEiRVӱGөQJP{KuQKEiQWKDPVӕYӟLKӋ
VӕKӗLTX\WKD\ÿәLQKѭVDX
࢙࢚ = ࢼ(ࢠ࢚) + ࢼ(ࢠ࢚)࢚ + ࢼ(ࢠ࢚)࢚כ + ࣆ࢚
7URQJÿy
stWӹJLiKӕLÿRiLGDQKQJKƭDJLӳD9LӋW
1DP Yj TXӕF JLD L L OҫQ OѭӧW Oj 7KiL /DQ
0DOD\VLD
pt FKӍ Vӕ JLi WLrX GQJ FӫD9LӋW 1DP
9,(
p*tFKӍVӕJLiWLrXGQJOҫQOѭӧWFӫD7KiL
/DQ7+$0DOD\VLD0$/
ztOjELӃQVӕFӕÿӏQKҧQKKѭӣQJÿӃQPӕL
TXDQKӋJLӳDVt, ptYjS
t7URQJEjLQJKLrQFӭX
Qj\QKyPWiFJLҧOӵDFKӑQ]tOjFKrQKOӋFKOmL
VXҩWJLӳDKDLTXӕFJLDPөFWLrXEӣLYuPӕLTXDQ
KӋJLӳDPӭFJLiYjWӹJLiKӕLÿRiLVRQJSKѭѫQJ
WKѭӡQJ Eӏ ҧQK KѭӣQJ EӣL FKrQK OӋFK OmL VXҩW
JLӳDKDLTXӕFJLDĈӇWtQKFKӍVӕ]tEjLQJKLrQ
FӭXWKXWKұSGӳOLӋXOmLVXҩWWtQSKLӃXNKREҥF
NǤKҥQWKiQJYjOmLVXҩWWUiLSKLӃXNKREҥFNǤ
KҥQQăP]tÿѭӧFWtQKQKѭVDX
(1)
57ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
%LӃQ 0{Wҧ &iFKWtQK
st 7ӹJLiKӕLÿRiLJLӳD7+%91'Yj0<5
91'
pt &3,FӫD9LӋW1DP OQ&3,91'
p*t &3,FӫDQѭӟFFzQOҥL OQ&3,7+%0<5
zt &KӋQKOӋFKOmLVXҩWJLӳDKDLFһSTXӕFJLD
7\WL±73m,t,i±7\W91'±7PW91'
zt 7\WL±73m,t,i±7\W91'±7PW91'
YӟLL 7+%0<5
1KyPWiFJLҧWұSWUXQJYjRNLӇPÿӏQKÿӗQJ
OLrQNӃWFӫDP{KuQKÿӇNLӇPÿӏQKJLҧWKX\ӃW
PPP.
.ờKLӋX
ݔݐ = (1,ݐ ,ݐכ)ܶ ,ߚ(ݖ) = (ߚ0(ݖ),ߚ1(ݖ),ߚ2(ݖ))ܶ
0{KuQKÿѭӧFYLӃWOҥLQKѭVDX
࢙࢚ = ࢚࢞Ԣ ࢼ(ࢠ) + ࢛࢚
&iFKӋVӕKӗLTX\WURQJP{KuQKÿѭӧFWtQK
QKѭVDX
ߚመݐ(ݖ) = ݔݐݔݐܶܭ݄(ݖݐ െ ݖ)
ܶ
ݐ=1
൩
െ1
ݔݐݏݐܭ݄(ݖݐ െ ݖ)
ܶ
ݐ=1
9ӟL
ܭ݄(ݖݐ െ ݖ) = ݄െ1ܭ ቀ
ݖݐ െ ݖ
݄ ቁ
.OjKjP.HUQHOYjKOjWKDPVӕEDQGZLGWK
1KyPWiFJLҧVӱGөQJѭӟFOѭӧQJ*DXVVLDQNHU-
QHOYjFKӑQEDQGZLGWKWӕLѭXEҵQJFiFKVӱGөQJ
SKѭѫQJSKiS/6&9/HDVW6TXDUH&URVV9DOL-
GDWLRQPHWKRG
ĈӇ NLӇP ÿӏQK ÿӗQJ OLrQ NӃW QKyP WiF JLҧ
WLӃQKjQKJLӳ OҥLSKҫQGѭFӫDP{KuQK Yj
WKӵFKLӋQNLӇPÿӏQKWKHRSKѭѫQJSKiSFӫD;LDR
%jLEiRWLӃQKjQKNLӇPÿӏQKKӋVӕ]HUR
FӫDELӃQ[XKѭӟQJWKӡLJLDQWURQJP{KuQK
࢛ෝ࢚ = ࢇ+ ࢈࢚+ ࢋ࢚
*L̫WKX\͇W+0:0{KuQKNK{QJFy[XKѭӟQJ
WKӡL JLDQ WӭF Oj FKXӛL Xt Oj FKXӛL GӯQJ WUXQJ
EuQK+D\QyLFiFKNKiFFyPӕLTXDQKӋÿӗQJ
OLrQNӃWJLӳDFKXӛLWӹJLiKӕLÿRiLYjFKXӛLJLi
1KѭYұ\ӫQJKӝJLҧWKX\ӃW333
%jLEiRÿѭӧFWLӃQKjQKWKHRWUuQKWӵQKѭVDX
- .LӇP ÿӏQK QJKLӋP ÿѫQ Yӏ EҵQJ$')
')*/6Yj33ÿӕLYӟLFiFFKXӛLWӹJLi
KӕL ÿRiL FKXӛL &3, Yj FKXӛL ]t 9ӟL
FKXӛL Wӹ JLi KӕL ÿRiL Yj &3, QӃX FiF
FKXӛLQj\NK{QJGӯQJYjOj,NKLÿy
YLӋFiSGөQJP{KuQKEiQ WKDPVӕ WKӇ
KLӋQPӕLTXDQKӋJLӳDWӹJLiKӕLÿRiLYj
FKӍVӕJLiOjSKKӧS+RQJYj3KLOOLSV
9ӟLFKXӛL]tWKHR;LDR
ÿk\SKҧLOjFKXӛLGӯQJ
- +ӗL TX\P{ KuQK Vӱ GөQJ SKѭѫQJ
SKiS/6&9/HDVWVTXDUHFURVV±YDO-
LGDWLRQFӫD6XQYj/LÿӇWuPUD
WKDPVӕEDQGZLGWKWӕLѭX
- .ӃWKӯDSKѭѫQJSKiSFӫD;LDR
NLӇPÿӏQKVӵWӗQWҥLFӫDOờWKX\ӃWQJDQJ
(2)
(3)
%ҧQJ%LӃQQJKLrQFӭX
67ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
%ҧQJ%DQGZLGWKWӕLѭXFKRFiFFһSTXӕFJLD
&һSTXӕFJLD 9,(7+$ 9,(0$/
Bandwidth
JLiVӭFPXDEҵQJP{KuQKKӗLTX\EiQ
WKDPVӕFyWKDPVӕWKD\ÿәLEҵQJFiFK
NLӇPWUDWtQKGӯQJFӫDSKҫQGѭ
.ӃWTXҧQJKLrQFӭX
ĈӇNLӇPÿӏQKFyWӗQWҥL333JLӳD9LӋW1DP
YjTXӕFJLDFzQOҥLQKyPWiFJLҧWLӃQKjQKFiF
NLӇPÿӏQKQKҵPWuPUDWtQKÿӗQJOLrQNӃWJLӳDWӹ
JLiKӕLÿRiLYj&3,FӫDFiFFһSTXӕFJLD
ĈҫXWLrQQKyPWiFJLҧWKӵFKLӋQNLӇPÿӏQK
WtQKGӯQJFӫDFiFFKXӛLWKӡLJLDQVӱGөQJWURQJ
EjL QJKLrQ FӭX EDR JӗP FiF FKXӛL YӅ Wӹ JLi
KӕLÿRiLYjFKXӛLFKӍVӕ&3,/ҫQOѭӧWVӱGөQJ
SKѭѫQJ SKiS $') ')*/6 Yj 33 NӃW TXҧ
ÿѭӧFWKӇKLӋQӣ%ҧQJ
%ҧQJ.LӇPÿӏQKWtQKGӯQJFKXӛLWӹJLiKӕLÿRiLYj&3,
%LӃQ $') ')*/6 33, , , , , ,
PVIE
S7+%91'
PTHA
S0<591'
P0$/
9ӟL JLҧ WKX\ӃW + FiF FKXӛL WKӡL JLDQ Fy
QJKLӋPÿѫQYӏ.ӃWTXҧӣFiFFӝW,ӣFҧED
NLӇP ÿӏQK ÿӅX FKҩS QKұQ JLҧ WKX\ӃW +, hay
QyLFiFKNKiFFiFFKXӛLQj\ÿӅXNK{QJGӯQJ
1KyP WiF JLҧ WLӃQ KjQK Oҩ\ VDL SKkQ FӫD FiF
FKXӛLWKӡLJLDQYjWKӵFKLӋQOҥLFiFNLӇPÿӏQK
NӃWTXҧFiFFӝW,FKRWKҩ\FiFFKXӛLWKӡLJLDQ
Qj\ÿӅXGӯQJ1KѭYұ\FiFFKXӛLWKӡLJLDQWӹ
JLiYjFKӍVӕ&3,OjFiFFKXӛLEұFQKҩWa,
1Kѭ Yұ\ YLӋF Vӱ GөQJP{ KuQK KӗL TX\ EiQ
WKDPVӕYӟLKӋVӕKӗLTX\WKD\ÿәLOjSKKӧS
+RQJYj3KLOOLSV
7KHR&DL HW DO Yj;LDR FKӍ
Vӕ]tÿҥLGLӋQEӣLFKrQK OӋFK OmLVXҩWJLӳDFiFFһSTXӕFJLDYjSKҧLGӯQJ'RÿyQKyPWiFJLҧ
WLӃQKjQKNLӇPÿӏQKWtQKGӯQJFӫDFKXӛL]tEҵQJNLӇPÿӏQK$')Yj33.ӃWTXҧ WKӇKLӋQ WURQJ
%ҧQJ
%ҧQJ.LӇPÿӏQKWtQKGӯQJFKXӛL]WVӱGөQJNLӇPÿӏQK$')Yj33
%LӃQ $') 33
ZTHA-VIE
Z0$/9,(
9ӟLJLҧWKX\ӃW+FiFFKXӛL]tFyQJKLӋPÿѫQ
YӏVӱGөQJNLӇPÿӏQK$')Yj33ÿӅXEiFEӓJLҧ
WKX\ӃW+ӣPӭFờQJKƭDYjĈLӅX
Qj\ FKR WKҩ\ FiF FKXӛL ]t ÿӅX Oj FKXӛL GӯQJ
a,.ӃWTXҧQj\WKӓDÿLӅXNLӋQEDQÿҫXFӫD
P{KuQK
0ӝWWURQJQKӳQJQJKӋWKXұWNKLVӱGөQJP{
KuQKEiQ WKDPVӕ OjSKҧL FKӑQ WKDPVӕEDQG-
ZLGWKSKKӧS7LӃSWKHRQKyPWiFJLҧVӱGөQJ
SKѭѫQJSKiS/6&9/HDVWVTXDUHFURVV±YDO-
LGDWLRQFӫD6XQYj/LÿӇWuPUDWKDPVӕ
EDQGZLGWKWӕLѭX
%ѭӟFFXӕL FQJQKyPQJKLrQFӭXNӃ WKӯD
SKѭѫQJSKiSFӫD;LDRNLӇPÿӏQKVӵWӗQ
WҥL FӫD Oờ WKX\ӃWQJDQJJLi VӭFPXDEҵQJP{
KuQKKӗLTX\EiQWKDPVӕFyKӋVӕWKD\ÿәLEҵQJ
77ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
%ҧQJĈӝOӋFKUDNKӓLÿѭӡQJQJDQJJLiVӭFPXD333
1ăP 7+$91 0$/91 1ăP 7+$91 0$/91
%4 %4
%4
FiFKNLӇPWUDWtQKGӯQJFӫDSKҫQGѭ
%ҧQJ.LӇPÿӏQKSKҫQGѭ
&һSTXӕFJLD 9,(7+$ 9,(0$/
p-value
9ӟLFһSTXӕFJLD9LӋW1DP±7KiL/DQKӋVӕ
SYDOXH OҫQ OѭӧW Oj.ӃWTXҧQj\ÿm WKҩW
EҥLWURQJYLӋFEiFEӓJLҧWKX\ӃW+WӭFOjEuQK
SKѭѫQJSKҫQGѭNK{QJELӃQÿәLWKHRWKӡLJLDQ
+D\QyLFiFKNKiFFKXӛLXtOjFKXӛLGӯQJWUXQJ
EuQK'RÿyӣFһSTXӕFJLDQj\QKyPWiFJLҧ
WuPWKҩ\WtQKÿӗQJOLrQNӃWJLӳDFKXӛLWӹJLiKӕL
ÿRiLYjFKXӛLJLi1KѭYұ\ӫQJKӝJLҧ WKX\ӃW
PPP.7X\QKLrQÿӕLYӟLFһSTXӕFJLD9LӋW1DP
Yj0DOD\VLDNӃWTXҧOҥLQJѭӧFOҥL9ӟLSYDOXH
ÿmFKRWKҩ\VӵELӃQÿәLWKHRWKӡLJLDQFӫD
SKҫQGѭWӭFXtNK{QJGӯQJĈLӅXQj\FKRWKҩ\
OờWKX\ӃWQJDQJJLiVӭFPXDNK{QJÿѭӧFGX\WUu
JLӳDFһSTXӕFJLDQj\
;iFÿӏQKÿӝOӋFKNKӓLÿѭӡQJQJDQJJLiVӭF
PXD333
7ӯVӕOLӋXYӅWӹJLiYjOҥPSKiWFӫDWӯQJTXӕF
JLD WURQJPүXQJKLrQFӭXQKyP WiFJLҧQKұQ
WKҩ\FyVӵFKrQKOӋFKWURQJWKD\ÿәLOҥPSKiW
JLӳDTXӕFJLD YӟL WKD\ÿәL Wӹ JLi ÿӗQJ WLӅQ
JLӳDTXӕFJLDĈLӅXQj\FKRWKҩ\VӁFyPӝWÿӝ
OӋFKFӫDFiFÿLӇPWKӇKLӋQTXDQKӋWURQJWKD\
ÿәLOҥPSKiWYjWӹJLiVRYӟLÿѭӡQJQJDQJJLi
VӭFPXDĈӇ[iFÿӏQKÿӝOӋFKQj\QKyPWiFJLҧ
VӱGөQJSKѭѫQJSKiSÿӗ WKӏNӃWKӧSYӟLYLӋF
[iFÿӏQKNKRҧQJFiFKFӫDWӯQJÿLӇPÿӃQÿѭӡQJ
PPP.
9ӟLÿѭӡQJ333YjÿLӇP0[;y
.KRҧQJFiFKWӯÿLӇP0ÿӃQÿѭӡQJ333ÿѭӧF
WtQKEҵQJF{QJWKӭFVDX
݀(ܯ ,ܲܲܲ) =
|ܽݔ0 + ܾݕ0 + ܿ|
ξܽ2 + ܾ2
DOjKӋVӕFӫD[YjEOjKӋVӕFӫD\WURQJSKѭѫQJ
WUuQK333
87ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
7KHRNӃWTXҧWtQKÿӝOӋFKUDNKӓLQJDQJJLi
VӭFPXD333WDWKҩ\WURQJFҧJLDLÿRҥQQJKLrQ
FӭXTXӕFJLD0DOD\VLDFyÿӝOӋFKUDNKӓLÿѭӡQJ
333OjOӟQQKҩWYӟLÿӝOӋFKOjWURQJNKL
7KiL/DQFyÿӝOӋFKUDNKӓLQJDQJJLiVӭFPXD
QKӓKѫQ1KuQYjRÿӗ WKӏ FiFÿLӇPSKkQ
WiQWұSWUXQJErQWUiLÿѭӡQJ333FKӭQJWӓOҥP
SKiW FӫD9LӋW1DP FDR KѫQ QKLӅX VR YӟL OҥP
SKiW FӫD0DOD\VLD QKѭQJ ÿLӅX FKӍQK WURQJ Wӹ
JLi0<591'NK{QJÿiQJNӇĈk\OjQJX\rQ
QKkQ FKӫ \ӃX GҭQ ÿӃQ ÿӝ OӋFK UD NKӓL ÿѭӡQJ
333 FӫD0DOD\VLD FDR WURQJJLDL ÿRҥQQJKLrQ
FӭX7ӯEҧQJ WtQKÿӝ OӋFK UDNKӓLÿѭӡQJ333
QKyPWiFJLҧFNJQJFyQKұQÿӏQKPһFGNӃWTXҧ
NLӇPÿӏQKFKRWKҩ\WӗQWҥL333JLӳD9LӋW1DP
Yj7KiL/DQQKѭQJÿӝOӋFKUDNKӓLÿѭӡQJ333
FӫDTXӕFJLDQj\QKӓKѫQ9ұ\FyWKӇNӃW
OXұQ YQJ WӗQ WҥL333NK{QJ FKӍ Oj QҵP WUrQ
ÿѭӡQJ333PjQҵPWURQJELrQÿӝQKӓKѫQKRһF
EҵQJ1JKƭDOjQӃXÿӝOӋFKUDNKӓLÿѭӡQJ
333WURQJSKҥPYLQKӓKѫQWKuYүQNӃWOXұQ
OjWӗQWҥL333OjGRWӗQWҥLFiFFKLSKtYұQWҧL
EҧRKLӇPWKXӃôWURQJWKѭѫQJPҥLTXӕFWӃ
.ӃWOXұQ
%jL EiR WKӵF KLӋQ QKҵP NLӇP ÿӏQK Vӵ WӗQ
WҥL QJDQJ JLi VӭF PXD 333 JLӳD 7KiL /DQ
0DOD\VLDYj9LӋW1DP9ӟLFiFKWLӃSFұQNKiF
VRYӟLFiFQJKLrQFӭXWUѭӟFQJKLrQFӭXQj\WuP
WKҩ\ Vӵ WӗQ WҥL QJDQJ JLi VӭFPXD 333 WURQJ
GjLKҥQJLӳD9LӋW1DPYj7KiL/DQWURQJYQJ
ÿѭӡQJ333YӟLSKҥPYLQKӓKѫQQKѭQJOҥL
NӃWTXҧQJKLrQFӭXNK{QJFKR WKҩ\Vӵ WӗQ WҥL
333JLӳD9LӋW1DPYj0DOD\VLDYӟLÿӝOӋFKUD
NKӓLÿѭӡQJ333OjWUrQ
/ờGRJLҧLWKtFKFKRVӵWӗQWҥLKD\NK{QJWӗQ
WҥLFӫDOờWKX\ӃW333[XҩWSKiWWӯQKLӅXQJX\rQ
QKkQĈӕLYӟL7KiL/DQPһFG OҥPSKiW FӫD
TXӕFJLDQj\WKҩSKѫQQKLӅXVRYӟL9LӋW1DPYj
FKӍEҵQJVRYӟLOҥPSKiWFӫD9LӋW1DPWURQJ
VXӕWJLDLÿRҥQQJKLrQFӭXQKѭQJGR7KiL/DQ
WKӵFKLӋQFKtQKViFKWӹJLiWӯFӕÿӏQKVDQJOLQK
KRҥWWLӃQÿӃQWKҧQәLWӯVDXNKӫQJKRҧQJQăP
ÿm OjPJLi WUӏ7+%ÿLӅXFKӍQK OLQKKRҥW
KѫQVRYӟLTXӕFJLDFyTXDQKӋWKѭѫQJPҥLĈӕL
YӟL0DOD\VLD Oj ÿӕL WiF WKѭѫQJPҥL OӟQ WKӭ
VDX7KiL/DQYjOjTXӕFJLDNK{QJWӗQWҥL333
+uQK3KkQEӕÿӝOӋFKUDNKӓLÿѭӡQJ
QJDQJJLiVӭFPXD333
97ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
7jLNKҧRWKDPNKҧR
Bahmani2VNRRHHDQG5DWKD7KH%LODWHUDO-&XUYH6ZHGHQYHUVXVKHU0DMRU
Trading Partners. ,QWHUQDWLRQDO-RXUQDORI$SSOLHG(FRQRPLF
%DXP&)%DUNRXODV-7&DJOD\DQ01RQOLQHDUDGMXVWPHQWWRSXUFKDVLQJSRZHU
SDULW\LQWKHSRVW%UHWWRQ:RRGVHUD-RXUQDO,QWHUQDWLRQDO0RQH\DQG)LQDQFH±
%ROOHUVOHY7*HQHUDOL]HG$XWRUHJUHVVLYH&RQGLWLRQDO+HWHURVNHGDVWLFLW\-RXUQDO
RI(FRQRPHWULF
&DUYDOKR&1HFKLR) $JJUHJDWLRQDQG WKH333SX]]OH LQD VWLFN\SULFHPRGHO
$PHULFDQ(FRQRPLF5HYLHZ±
&KHQ:$QDO\]LQJPXOWLSOHQRQOLQHDUWLPHVHULHVZLWKH[WHQGHG*UDQJHUFDXVDOLW\
3K\VLFV/HWWHUV$±
*LUDLWLV/.DSHWDQLRV*<DWHV7,QIHUHQFHRQVWRFKDVWLFWLPHYDU\LQJFRHI¿FLHQW
models.-RXUQDORI(FRQRPHWULFV±
&KRQJ< -RUGiẽ7D\ORU$07KH+DUURG±%DODVVD±6DPXHOVRQK\SRWKHVLV UHDO
H[FKDQJHUDWHVDQGWKHLUORQJUXQHTXLOLEULXP,QWHUQDWLRQDO(FRQRPLF5HYLHZ±
(QJOH5$XWRUHJUHVVLYH&RQGLWLRQDO+HWHURVFHGDVWLFLW\ZLWK(VWLPDWHVRI9DULDQFH
RI8QLWHG.LQJGRP,QÀDWLRQ(FRQRPHWULFD
*DR - 1RQOLQHDU 7LPH 6HULHV 6HPLSDUDPHWULF DQG 1RQSDUDPHWULF 0HWK
RGV/RQGRQ&KDSPDQDQG+DOO&5&
*UDQJHU&:-6WUDWHJLHVIRU0RGHOOLQJ1RQOLQHDU7LPH6HULHV5HODWLRQVKLSV(FR
QRPLF5HFRUG
+DQQDQ(-7KHDV\PSWRWLFWKHRU\RIOLQHDUWLPHVHULHVPRGHOV-RXUQDORI$SSOLH
3UREDELOLW\
+HFNVFKHU () 9l[HONXUVHQV JUXQGYDO YLG SDSSHUVP\QWIRW(NRQRPLVN 7LGVNULIW
±
+RQJ6+3KLOOLSV3&%7HVWLQJOLQHDULW\LQFRLQWHJUDWLQJUHODWLRQVZLWKDQDSSOLFD-
tion to purchasing power parity.-RXUQDORI%XVLQHVV(FRQRPLF6WDWLVWLFV±
/L H./LQ Z.Yj+VLDR C., . Testing purchasing power parity hypothesis: a semipara-
PHWULFYDU\LQJFRHI¿FLHQWDSSURDFK(PSLULFDO(FRQRPLFV
0LFKDHO:0(GHU36DQG'UH\IXVV*7KH.QXFOHDUVKXWWOLQJGRPDLQ$QRY-
HOVLJQDOIRUQXFOHDULPSRUWDQGQXFOHDUH[SRUWLQWKHKQ513.SURWHLQ(0%2-±
YӟL9LӋW1DPWURQJJLDLÿRҥQQJKLrQFӭXOjGR
FKrQKOӋFKOҥPSKiW9LӋW1DPYj0DOD\VLDNKi
FDRPӭFWUXQJEuQKWUrQWѭѫQJWӵQKѭ7KiL
/DQQKѭQJFKtQKViFKWӹJLiFӫD0DOD\VLDNKi
FӭQJQKҳFQHRFӕÿӏQKYjR86'WURQJWKӡLJLDQ
GjLÿӃQQăPEҳWÿҫXÿLӅXFKӍQKOLQKKRҥW
KѫQ1KѭYұ\NKL[iFÿӏQK WӹJLiFKpR0<5
91' WKu ÿѭѫQJ QKLrQ 0<5 OrQ JLi VR YӟL
91'/ҥPSKiW9LӋW1DPFDRKѫQ0DOD\VLDOӁ
UD91'SKҧLJLҧPJLiQKѭQJNKL0<5JLҧPJLi
VkXKѫQVRYӟL86'WKu91'OҥLWLӃSWөFOrQJLi
Yjÿk\OjQJX\rQQKkQFKӫ\ӃXJLҧLWKtFKFKRVӵ
NK{QJWӗQWҥL333JLӳD9LӋW1DPYj0DOD\VLD
YӟLÿӝOӋFKUDNKӓLÿѭӡQJ333Oj
10
7ҥSFKt1JKLrQFӭX7jLFKtQK0DUNHWLQJVӕ
2ả&RQQHOO3*-:HL6-7KHELJJHUWKH\DUHWKHKDUGHUWKH\IDOOWKHUHWDLOSULFH
differences across US cities. -RXUQDORI,QWHUQDWLRQDO(FRQRPLFV±
3HVDUDQ0+6PLWK5RQ3<DPDJDWD7DQG+YR]G\N/3DLUZLVHWHVWVRISXU-
chasing power parity, (FRQRPHWULF5HYLHZVSS,661
6XQ< /L 4 'DWDGULYHQ EDQGZLGWK VHOHFWLRQ IRU QRQVWDWLRQDU\ VHPLSDUDPHWULF
models.-RXUQDORI%XVLQHVVDQG(FRQRPLFV6WDWLVWLFV±
7D\ORU037KH(FRQRPLFVRI([FKDQJH5DWHV-RXUQDORI(FRQRPLF/LWHUDWXUH, 33:
7D\ORU033HHO'$6DUQR/1RQOLQHDUPHDQUHYHUVLRQLQUHDOH[FKDQJHUDWHVWR-
ward a solution to the purchasing power parity puzzles. ,QWHUQDWLRQDO(FRQRPLF5HYLHZ±
7D\ORU$0$&HQWXU\RI3XUFKDVLQJ3RZHU3DULW\7KH5HYLHZRI(FRQRPLFVDQG
6WDWLVWLFV
7RQJ+1RQOLQHDU7LPH6HULHV$'\QDPLFDO6\VWHP$SSURDFK2[IRUG2[IRUG
University Press.
;LDR = )XQFWLRQDOFRHI¿FLHQW FRLQWHJUDWLQJ UHJUHVVLRQ -RXUQDO RI (FRQRPLFV
±
Các file đính kèm theo tài liệu này:
- 15t_3015_2141146.pdf